Leading our survey with top rank is HSBC Holdings plc, which is a British multinational banking company whose headquarters are in London, United Kingdom.
It is fourth largest bank in the world in terms of assets, and the bank lies mainly in Hong Kong and Shanghai. The company was established in 1865, and is located in 80 countries with 6000 offices and has around 600 million customers, and is recognized the world over as a prominent bank brand.
Meanwhile, in India HSBC has decided to shut down 25 branches out of a total 50 citing the reason that more people are using banking services through digital rather than going to branches. This will take place in phased manner and will impact bank’s 1% of the employees in the country employs 33,000.
India is a priority market for it and will continue invest in retail and wealth management services. The braches which are being shut down get less than 10% of the customers. Elsewhere amid rumors of layoffs from HSBC, Chris Clark, and group head of marketing will be leaving the company after 17 years. Reuters and other agencies reported that HSBC will be cutting several executive level job. These jobs will be cut in its investment bank unit as recently hired CEO Matthew Westerman aims make a difference to the organization. According to insiders the company let top executives go late last year, although Clark was not affected by those layoffs. George Osborne has joined forces with various banks like HSBC, JPMC, BT.
Revenue(Bil $): 60.68
Profit(Bil $): 15.53
Assets(Bil $): 2600
The leading companies in UK are considered and various parameters like revenue, profit and assets are taken. Each of these parameters are assigned weightages i.e. revenues (0.33), profits (0.5) and assets (0.17). After this, a final score is calculated for all, depending on which a final rank is calculated.